Court Rules FMV Cost of Acquisition as NIL for Tenancy Rights Sale; Sections 55(2)(a) & 55(2)(b) Applied.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Mode of computation - sale of tenancy rights - Benefit of indexation - Cost of acquisition to be taken as NIL for Fair Market Value (FMV) as on 1.4.1981 - Scope of section 55(2)(a) and 55(2)(b) - issue decided in favor of revenue.....